Retirement Security
Fewer employers today provide defined-benefit pensions for their workers—and among those that do, many are offering “defined-contribution” (like 401[k]s) rather than traditional “defined-benefit” pension plans.
That’s why Social Security insurance is essential for millions of retirees. Nearly two-thirds of retirees count on Social Security for half or more of their retirement income and for more than three in 10, Social Security is 90 percent or more of their income. It is a safety net that keeps retirees out of poverty.
It’s also important to figure out what you will need to retire. Talking a look at how much Social Security will provide, whether you have another form of pension and how much you spend are all components in determining when you can retire.
For decades, workers achieved retirement security because their retirement income flowed from a combination of employer-provided pensions, Social Security and personal savings. But the recession has exposed the severe deficiencies in our retirement system. We need to develop a new way to provide workers with lifetime retirement security beyond Social Security.
More about this issue:
The Retail, Wholesale and Department Store Union (RWDSU) this week announced it will be filing Unfair Labor Practice charges (ULPs) against REI, Inc. in both the SoHo and Cleveland unionized stores.
Projectionists at a Brooklyn Alamo Drafthouse, the movie theater chain known for serving food and drinks during screenings, have filed a petition to unionize with the National Labor Review Board.
Mediation between the Marine Engineers’ Beneficial Association (MEBA)—which represents the captains, assistant captains, mates, engineers and chief engineers on the Staten Island Ferry— and the City, ongoing since last year, continues, with another meeting will take place next week.
In a powerful show of solidarity, SAG-AFTRA members have voted 97.91% in favor of a strike authorization ahead of negotiations of the TV/Theatrical Contracts, with nearly 65,000 members casting ballots for a voting percentage of 47.69% of eligible voters.
Wednesday night, the Retail, Wholesale and Department Store Union (RWDSU), announced that, by an overwhelming vote of 97% in favor of the union, workers at Barnes & Noble’s Flagship Union Square store have voted to join the RWDSU.
Workers at Insider have been on a ULP strike since June 2nd over management's decision to illegally change their health insurance, saddling them with higher costs and worse coverage.
The DCINY Orchestra (represented by AFM Local 802) is on strike for a fair contract—and these musicians won some high-profile support this week on their picket line.
As nearly 600 postdoctoral fellows continue fighting for a first contract with Mt. Sinai, an overwhelming 80 percent of 350 student researchers have now organized and seek representation as Sinai Student Workers-UAW (SSW-UAW) at the major New York City biomedical research institution.
Insider Union members went on strike at 12AM this morning in response to the company’s refusal to undo illegal changes it made to their health care and management’s intransigence in contract negotiations.